Xtended Space secures funding from Hindustan Media Ventures

Peer-to-peer artificial intelligence (AI) storage platform Xtended Space has successfully raised an undisclosed amount from Hindustan Media Ventures Ltd in a recent funding round. 

The investment will enable the startup to address the increasing demand for innovative self-storage solutions in prop-tech. The company had previously secured pre-seed funding from P. Sampath, former chief financial officer, Essar Group, and other noted investors.

“We’ve embarked on an extraordinary journey of triumph, poised to revolutionize India through our innovative and affordable storage services, forging a sustainable revenue model. With a transparent vision, we aim to empower Indian businesses and households, catalysing positive transformation of your home and offices,” Xtended Space co-founder Saurabh Dey said in a statement.

“Technology has transformed our lives and has made it more convenient, efficient and comfortable. Xtended Space is trying to revolutionize the real estate sector by connecting people who require additional space for short to medium term with people owning excess real estate. This will enable space seekers to fulfil their storage requirements affordably while providing hosts an extra income source. We are excited to partner with them on this journey,” said Anirudh Singhal, strategic investment head, Hindustan Times.

Hindustan Media Ventures is a subsidiary of HT Media Ltd, which publishes Mint and The Hindustan Times.